The Global On-road Motorcycles Market size is expected to reach $93.3 billion by 2030, rising at a market growth of 6.1% CAGR during the forecast period.
Adventure tourism on motorcycles contributes to the economic well-being of local communities. Thus, the Touring Motorcycle segment would acquire $15,809.4 million in 2030. As riders traverse diverse landscapes, they patronize local businesses, including hotels, restaurants, and shops. This economic impact can be particularly significant in regions that embrace and promote motorcycle tourism. Recreational riding and adventure tourism are vital in promoting the motorcycle culture. Events, rallies, and gatherings centered around recreational riding create platforms for enthusiasts to connect, share experiences, and celebrate their love for riding. This culture fosters brand loyalty and strengthens the sense of belonging among riders. The market has witnessed a surge in the popularity of dual-sport and adventure motorcycles designed to handle a variety of terrains. Some of the factors impacting the market are increasing technological advancements and innovation, growing accessibility for novice riders, and regulatory compliance and emission standards.
Continuous technological advancements and innovation in on road motorcycle have driven market growth. Features such as advanced safety systems, connectivity options, and electric powertrains contribute to the appeal of motorcycles, attracting tech-savvy consumers. Innovative technologies have enabled the incorporation of sophisticated safety systems into road motorcycles. Additionally, introducing lightweight and beginner-friendly models has expanded the market's accessibility, attracting novice riders. Lower displacement engines and user-friendly designs cater to individuals new to motorcycling, further broadening the customer base. Collaborations between manufacturers, dealerships, and training institutions create a supportive environment for those new to riding. Digital resources contribute to a more informed and confident entry into motorcycling. Growing accessibility for novice riders has been a pivotal factor in driving the growth of the market.
However, complying with stringent emission standards often requires manufacturers to invest in new technologies and modify existing models. Implementing cleaner and more fuel-efficient engines, exhaust systems, and emission control technologies can significantly increase manufacturing costs. Smaller and niche motorcycle manufacturers may face greater challenges in meeting stringent emission standards. The financial burden of investing in advanced technologies and conducting emissions testing can be disproportionately high for these manufacturers, potentially leading to market exits or consolidation. Regulatory compliance and emission standards are a significant challenge that hampers the growth of market.
By type, the market is categorized into sports bike, cruiser motorcycle, touring motorcycle, and standard motorcycle. In 2022, the cruiser motorcycle segment held the highest revenue share in the market. Cruiser motorcycles are known for their iconic design and aesthetics. The classic, often retro-inspired look appeals to riders who appreciate a blend of style and functionality. The visual appeal of cruisers contributes to their popularity, attracting consumers who prioritize a unique and timeless design. Cruiser motorcycles typically feature a relaxed and comfortable riding position, with a low-slung seat and forward-set footpegs. This design is conducive to long rides, making cruisers attractive for riders who prioritize comfort during extended journeys.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 56 Billion |
| Market size forecast in 2030 | USD 93.3 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6.1% from 2023 to 2030 |
| Number of Pages | 164 |
| Number of Table | 180 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Region |
| Country scope |
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| Companies Included | Harley-Davidson, Inc., Yamaha Corporation (Menchey Music Service, Inc.), Honda Motor Co. Ltd., Kawasaki Heavy Industries, Ltd., BMW Group, Suzuki Motor Corporation, Ducati Motor Holding S.p.A (Volkswagen AG), Bajaj Auto Ltd., TVS Motor Company Ltd. (TVS Holdings Limited), Hero MotoCorp Ltd. |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating the highest revenue share. Rapid economic development in several countries across the Asia-Pacific region has led to an increase in disposable income. Urbanization and the resulting traffic congestion in many Asian cities have made motorcycles an attractive and practical mode of transportation. The expanding middle-class population in many Asia-Pacific countries has increased aspirational purchasing, including the desire for personal vehicles.
Free Valuable Insights: Global On-road Motorcycles Market size to reach USD 93.3 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Harley-Davidson, Inc., Yamaha Corporation (Menchey Music Service, Inc.), Honda Motor Co. Ltd., Kawasaki Heavy Industries, Ltd., BMW Group, Suzuki Motor Corporation, Ducati Motor Holding S.p.A (Volkswagen AG), Bajaj Auto Ltd., TVS Motor Company Ltd. (TVS Holdings Limited), Hero MotoCorp Ltd
By Type
By Geography
This Market size is expected to reach $93.3 billion by 2030.
Increasing technological advancements and innovation are driving the Market in coming years, however, Regulatory compliance and emission standards restraints the growth of the Market.
Harley-Davidson, Inc., Yamaha Corporation (Menchey Music Service, Inc.), Honda Motor Co. Ltd., Kawasaki Heavy Industries, Ltd., BMW Group, Suzuki Motor Corporation, Ducati Motor Holding S.p.A (Volkswagen AG), Bajaj Auto Ltd., TVS Motor Company Ltd. (TVS Holdings Limited), Hero MotoCorp Ltd
The expected CAGR of this Market is 6.1% from 2023 to 2030.
The Asia Pacific region dominated the Market, by Region in 2022, and would continue to be a dominant market till 2030;there by, achieving a market value of $56.2 billion by 2030.
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